{"id":9108,"date":"2026-08-14T09:34:49","date_gmt":"2026-08-14T09:34:49","guid":{"rendered":"https:\/\/movinginsiderusa.com\/?p=9108"},"modified":"2026-08-14T09:34:49","modified_gmt":"2026-08-14T09:34:49","slug":"truth-socials-sale-of-fast-access-to-trump-posts-draws-legal-concerns","status":"publish","type":"post","link":"https:\/\/movinginsiderusa.com\/?p=9108","title":{"rendered":"Truth Social\u2019s sale of fast access to Trump posts draws legal concerns"},"content":{"rendered":"

A lawsuit filed this week alleges that the product is unconstitutional, and other experts warn it could violate securities laws.<\/strong><\/p>

Read more This national youth sports organization is failing to protect kids from sexual abuse<\/a><\/p>\n

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President Donald Trump holds up a print-out of one of his Truth Social posts at an Oval Office event in June. (Julia Demaree Nikhinson\/AP)<\/figcaption>\n<\/figure>\n

President Donald Trump\u2019s media company has forged ahead with selling investors advance access to top Truth Social posts despite legal and ethical questions as it faces renewed scrutiny over <\/b>its financial stability and relevance.<\/p>\n

Trump Media & Technology Group reported Monday that it had signed up more than 10 customers in the week since the launch of its new product, Truth API. Some were paying less than the $100,000 per month it had initially asked, the company said.<\/p>\n

\u201cWe recognize a modest amount of revenue from these agreements today,\u201d interim CEO Kevin McGurn said in an earnings call, <\/b>adding that he believes it can \u201cgrow into a meaningful, durable\u201d driver of growth.<\/p>\n

Trump Media stock dropped slightly after-hours following the earnings call. It has fallen by nearly 40 percent<\/a> this year, and traffic to Truth Social has declined. Meanwhile, world leaders say <\/a>they have grown inured to the threats the president regularly posts to the platform.<\/p>\n

Still, the company\u2019s quarterly revenue climbed 89 percent over the same time period last year, driven in part by its streaming platform and advertising on Truth Social.<\/p>\n

The company has sought to position Truth API as a bright spot for its future. It faces hurdles to doing so, however, including some novel legal issues.<\/p>\n

On Wednesday, two media organizations sued<\/a> Trump and other administration officials over Truth API. The Intercept and the Freedom of the Press Foundation argued that the service is unconstitutional because it gives paying customers privileged access to public, market-moving announcements.<\/p>\n

\u201cA president selling priority access to news he himself generates for the benefit of a private company he controls is so blatantly corrupt and unconstitutional that it would have been hard to even fathom just a few years ago,\u201d Seth Stern, chief of advocacy at the Freedom of the Press Foundation, said in a statement.<\/p>\n

The suit argues that journalists and other members of the public have a First Amendment right of access to the president\u2019s announcements.<\/p>\n

That\u2019s an untested legal theory. Beyond that question, <\/b>legal experts, including a former Securities and Exchange Commission official, have warned that the service could run afoul of securities laws, which prohibit using nonpublic executive branch information for financial gain.<\/p>\n

Trump\u2019s posts are disseminated by many other platforms and news outlets that also offer subscription APIs, a spokesperson for Trump Media & Technology Group said, calling the lawsuit an effort to censor the president and hurt Trump Media.<\/p>\n

On the earnings call, McGurn said: \u201cTruth API provides a machine-readable feed of publicly available Truth Social posts from the platform\u2019s top accounts in milliseconds. Our customers will get published and publicly available posts fractionally faster.\u201d<\/p>\n

The customers who have signed up so far are primarily high-frequency trading firms, McGurn said, but Trump Media is also courting news organizations, hyperscalers, AI developers and prediction markets.<\/p>\n

Truth API is very profitable right now because it costs the company almost nothing to produce, said Jay Ritter, a finance professor and director of the IPO Initiative at the University of Florida.<\/p>\n

\u201cBut on the other hand it\u2019s not going to be a big market,\u201d he said. Speedy information becomes less valuable to traders the more their competitors buy it. It \u201cbecomes worthless because they\u2019re all going to compete things away.\u201d<\/p>\n

The company has been \u201cburning cash\u201d since the merger<\/a> <\/b>it used to go public in 2024, Ritter <\/b>said.<\/p>

Read more Cavalli strikes out 10 as Nationals beat Cubs, 7-0<\/a><\/p>\n

Trump Media & Technology Group lost more than $238 million in the second quarter and made less than $2 million, according to its quarterly earnings report. The substantial loss was largely due to bitcoin losses and legal expenses related to a dispute over the merger.<\/p>\n

Traffic has declined significantly to Truth Social\u2019s website, raising questions about the service\u2019s continued relevance as Trump prepares for the midterms. In July, the total number of monthly visitors to Truth Social was down 36 percent from a year ago, according to estimates by the online tracking firm Similarweb.<\/p>\n

Truth Social has been dogged by ethical questions from its founding in 2022, and Trump\u2019s stake in the business has created conflicts of interest that no other U.S. president has faced.<\/p>\n

Trump has used Truth Social as a bully pulpit throughout his second presidency, sometimes posting on the service more than 100 times a day. He has nearly 13 million followers and uses the platform as his primary tech service to communicate with the public.<\/p>\n

He has used it to make major announcements about the Iran war, tariffs and the Federal Reserve. His posts regularly move the stock and oil markets.<\/p>\n

Trump\u2019s family is the primary shareholder in Trump Media & Technology Group. The president\u2019s stake in the company is worth nearly $1 billion, based on the share price at market close Thursday. His shares are held in a revocable trust managed by his son Donald Trump Jr. In 2024, his stake was valued at about $4 billion.<\/p>\n

Multiple Democratic lawmakers, including Sens. Elizabeth Warren (Massachusetts) and Adam Schiff (California) and Reps. Ritchie Torres (New York) and Angie Craig (Minnesota), have asked the SEC to investigate the Truth API to determine whether it violates federal securities laws.<\/p>\n

Rep. Jamie Raskin (D-Maryland) launched his own investigation into the product, demanding that Trump Media produce records of communication between company executives and government officials related to the plan; information on the Truth Social accounts available through the API and any customers; and revenue projections, pricing, marketing materials and more.<\/p>\n

\u201cThis White House-Wall Street-Trump Business feedback loop represents the depraved essence of insider trading,\u201d he wrote in a letter<\/a> to McGurn in late July.<\/p>\n

Defenders of the product have argued that the API gives customers information a few milliseconds after it is visible to the public on Truth Social\u2019s website.<\/p>\n

\u201cProviding licensed real-time public data through commercial APIs is a well-established business practice across the technology, financial information and media industries. This is no different,\u201d McGurn said on the earnings call.<\/p>\n

But \u201cif that millisecond didn\u2019t make a difference, people wouldn\u2019t pay for that information,\u201d said Ren\u00e9e Jones, a professor at Boston College Law School who worked at the SEC during the Biden administration.<\/p>\n

Jones, the author of <\/b>\u201cUntamed Unicorns: Why Startup Finance Is Broken and How to Fix It,\u201d said the product appeared to violate the Stop Trading on Congressional Knowledge Act, a 2012 law that prohibits the president, vice president and members of Congress from using nonpublic information learned through their offices for financial gain.<\/p>\n

It is unlikely that the SEC, which is run by Trump appointee Paul S. Atkins, or Trump\u2019s Justice Department would bring an insider-trading case. Whether a private party could successfully bring a claim remains untested.<\/p>\n

The lawsuit brought by the media organizations Wednesday is expected to test novel legal theories in court, said RonNell Andersen Jones, a professor of law at the University of Utah. Their claim of a First Amendment right to access uses precedent from recent court rulings<\/a> that have found that public officials can be sued for blocking or deleting commentary when they\u2019re speaking on the government\u2019s behalf.<\/p>\n

\u201cIt\u2019s a suit that is aiming to force a wider public conversation\u201d around corruption and the First Amendment, she wrote.<\/p>

Read more What Democrats can learn from Wisconsin\u2019s \u2018oatmeal\u2019 win<\/a><\/p>","protected":false},"excerpt":{"rendered":"

A lawsuit filed this week alleges that the product is unconstitutional, and other experts warn it could violate securities laws.<\/p>\n","protected":false},"author":1,"featured_media":9105,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting"],"yoast_head":"\nTruth Social\u2019s sale of fast access to Trump posts draws legal concerns - Moving Insider USA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/movinginsiderusa.com\/?p=9108\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Truth Social\u2019s sale of fast access to Trump posts draws legal concerns - 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